In a major shift for domestic retail finance, official data reveals a sharp Nigeria consumer credit contraction, with total outstanding personal and retail loans dropping by 19.89 percent to N3.78 trillion. The drop represents the first annual decline recorded in consumer borrowing since December 2019. This shift in household behavior halted half a decade of steady growth in personal loans across domestic commercial banks. How Retail Loans Surpassed Personal Credit LinesWhile overall borrowing dropped, the internal structure of consumer debt experienced a major transformation during the year. Adapting Financial Planning for a High-Interest EraLooking ahead, sustainable growth in consumer credit will depend on stabilizing inflation and lowering lending benchmarks.